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HISTORICAL FACTS: 8 - Caught on Camera

'We view this as an irrational market,' Citigroup analysts worry that major bank stocks like Deutsche Bank are cratering for psychological reasons

Citi really fears the "knock-on impact from various media headlines on depositors psychologically," regardless of whether the initial reasoning was correct.

Fortune

Head of Credit Suisse talks of his profound sadness over UBS takeover

Ulrich Körner acknowledges an ‘emotional and challenging week’ after emergency deal was forced through by Swiss authorities

The Guardian - UK

Deutsche Bank is no Credit Suisse, despite investors’ fears

German lender’s shares were hit by general loss of confidence, not by any specific failings

The Guardian - UK

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Europe will pay the price for wiping out Credit Suisse bondholders, warns ex-CEO Tidjane Thiam

Tidjane Thiam says the controversial decision by Swiss authorities will mean U.S. and Asian lenders could come out of banking crisis stronger.

Fortune

Deutsche Bank leads sell-off in European bank shares

FTSE 100 also falls amid fears another bank could slip into trouble after UBS takeover of Credit Suisse

The Guardian - UK

Deutsche Bank shares drop amid global jitters over banks

Shares in Deutsche Bank, Germany’s largest lender, have fallen sharply and dragged down major European banks as fears about weaknesses in the global financial system send fresh shudders through the markets

The Independent UK

Global banking crisis anything but over as investors dump giant USB’s shares

Banking stocks have fallen sharply with heavyweights Deutsche Bank and UBS hit hard by fears of the worst crisis since 2008 financial crisis

The New Daily

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EU Leaders Grapple with Bank Risks as Economy Weakens

European Union leaders gathered Friday to gauge the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even harder than the energy crunch tied to Russia's war in Ukraine. The deliberations by EU government heads in Brussels follow US regulators shutting down two US…

Asharq Al-Awsat

EU leaders grapple with bank risks as economy weakens

European Union leaders are gauging the risk of a banking crisis developing from recent global financial turmoil and hitting an already weak economy

The Independent UK

UBS Acquisition Of Credit Suisse As Anxiety Builds Among Banks’ Subordinated Bondholders

UBS Group AG's takeover of Credit Suisse Group AG has done nothing to alleviate market concerns about the banking sector

Zenger

U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That's not a problem—until it is

"As long as people aren't all coming in at the same time and demanding that their deposits back, you're okay, but that's exactly what's been happening," Prof. Stephan Weiler told Fortune. "So the chances of facing those unrealized losses are going up."

Fortune

Intensive monitoring backs local banks to ride out global market ructions

Financial regulators confirm the resilience of Australia's banking system following rigorous oversight during the past fortnight.

The New Daily

Citi boss blames banking crisis on a few black sheep: ‘This is not a credit crisis’

Silicon Valley Bank and Credit Suisse only really have themselves to blame for their collapse, argued the native Scot.

Fortune

European bank shares fall as crisis leaves mark

Banking shares have slipped in Europe as investors adjust to more challenging economic and lending conditions ahead.

The New Daily

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Evening Standard

Interest rates hiked to 4.25% but Bank of England ‘hopeful’

The quarter-point rise comes amid growing talk in the City that rates are now near their peak

Bangkok Post

After Fed, European central banks hike rates

LONDON: The Bank of England joined Norway and Switzerland in hiking interest rates on Thursday to tackle stubbornly-high inflation, though banking-sector turmoil could soon lead to a pause in US tightening as hinted by the Federal Reserve.

The Independent UK

Credit Suisse deal halted crisis, Swiss national bank says

The Swiss central bank has hiked its key interest rate and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil

Bangkok Post

World faces prospect of financial tumult

Today, I was supposed to present the third article, Managing Household Debt, in the series "Changing Thailand". In fact, I have finished drafting a payment reduction model which could reduce monthly debt payments by 4.6 times without the hair-cutting debt principal or requiring government financial support. But I will delay…

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The New Daily

Alan Kohler: Banking is a paradox at the heart of capitalism

Banking is the confidence trick at the heart of capitalism, but preserving the trick has meant that banks have become arms of the state.

The Guardian - US

US Federal Reserve raises interest rates a quarter-point amid banking turmoil

Fed announces rise to a range of 4.75% to 5% – its ninth consecutive rate rise and the highest rate since 2007

The Conversation

When banks go bust: the four factors at play - trust, confidence, contagion and systemic risk

Banks are in the news again. Two bank failures in the US, and the forced takeover of Credit Suisse by UBS in Switzerland, have triggered the worst turmoil in the banking sector since the 2008 financial crisis. There’s talk of a lack of trust, of a collapse in confidence, of…

The Independent UK

Credit Suisse customers feel mix of anger, relief after sale

Credit Suisse's customers are feeling a range of emotions after the government orchestrated a takeover of the country’s second-largest bank by rival UBS

Fortune

Shareholders won in UBS's Credit Suisse takeover -but this investment manager lost $340m

PIMCO's exposure now runs into the billions, a source familiar with the matter said.

Fortune

The long, strange history between Credit Suisse and UBS

The two banks have a long history of not getting along.

The Conversation

What is systemic risk and how does it lead to a banking crisis?

The recent collapse of Silicon Valley Bank (SVB), a regional US bank that funded start-up companies in the technology and innovation sector, has created a worldwide wave of financial instability.

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